mortgages

Brightspark87

Hi guys

myself and my DH have had an amazing offer from family to help us buy a house. Its part of their IHT planning too!

they have offered to help us buy a house c£50-75,000 I think as properties are £250,000 - £275,000.

I hope to be debt free by Christmas and DH should be by early next year. However, he has a default (currently being disputed) from 2013, and I have AP markers on some accounts although now good enough credit to be able to get head line 0% deals.

Will we be ok to get a mortgage in 9-12 months?

Earnings will be £57,500 plus bonus and car allowance of £2,500 between us.

Any advice tips etc would be very useful! thank you :j

ACG

credit cards and mortgages are very different.

When did you start and finish the Arrangement to pays?
When in 2013 is the default from?

Brightspark87

Hi Started July 2013 finished Dec 2013 and default was May 2013 thanks!

Brightspark87

Also just to add that once I am debt free I will be saving at least £500 a month (savings were £5k but moving so reduced significantly)

ACG

There will likely be options, but I think you need to be careful with your choice of lender and check criteria before doing any credit checks or speak to a broker ideally with experience in adverse.

Some brokers may throw this at an adverse lender straight away when you have a chance of getting this through at high street rates.

Brightspark87

Thanks ACG I will speak with a broker, I've had a recommendation but not sure he deals with adverse? How do I find one that does?

ACG

Google? You could find a "normal" broker and have a chat and see what they think initially.
Or you could find an adverse mortgage broker and agaiin see what their thughts are.

Brightspark87

thank you!